Hello
We purchased a land from a buyer for Rs. 60 lakhs.On the date of execution of registry (3/8/14) we have given him 18 lakhs cash and 42 lakhs PDC.Soon after 20 days of registry we came to know that actual land was in possession of different person and the concern person is not willing to give us that land,We contacted buyer and told him that the land he has shown was different and actual land was in possession of some other persons But surprisingly he refused to take action on this matter since we are the new buyers.
Because of that we allow to dishounour 42 lakhs cheque which we given him at registry asking him to provide land first.But now he is forcing us to give him reaming payment in addition to this we now received us a court notice in which he is demanding the amount with interest.
We have not given him any notice regarding his land since all communication was going on phone.
My Questions :
1) Registry is on the name of Cooperative Society and since the purchased land is litigated is it compulsory to give him the amount.
2)Current government value and market value of land is more than 2 crore Can we claim on him for same deducting his 42lak or we can only claim for our 20lakh and registry expenses we have done.
3)Can we ask court that we will pay him the amount after he clears the litigation from land.
Regards
